Clinical trials will also be fast-tracked to accelerate the development of the medicines and therapies of the future, with the current time it takes to get a clinical trial set-up cut to 150 days by March 2026, in 2022 the figure was more than 250 days.

This will be achieved by cutting bureaucracy and standardising contracts so time isn't wasted on negotiating separate details across different NHS organisations, and ensuring transparency by publishing trust-level data for the first time.

The Health Data Research Service brings access to data for medical research into one secure and easy-to-use location, meaning a researcher doesn't have to navigate different systems or make multiple applications for information for the same project.

The service will be housed at the Wellcome Genome Campus in Cambridgeshire, where Wellcome is building a range of new R&D lab and office spaces to expand the current campus's capacity for innovative genomics and biodata companies.

Prime Minister, Keir Starmer, said: ‘The measures I am announcing today will turbo-charge medical research and deliver better patient care. I am determined to make Britain the best place in the world to invest in medical research.

‘That is not just good for patients and their families. It means growth that puts more money in working people's pockets with more, better paid jobs.'

Health and Social Care Secretary, Wes Streeting, added: ‘We will unblock the barriers preventing our greatest scientists from safely accessing what they need to save patients' lives – while keeping data secure.

‘This venture will drive vital investment into the UK and put us at the epicentre of breakthroughs in science. If we can combine the care of the NHS with the ingenuity of our world-leading scientists, our health service could truly become the envy of the world.'

Dr Vin Diwakar, national director of transformation at NHS England, said: ‘We've seen over the past few years the vital role that research plays in improving healthcare – from the rollout of the Covid vaccine to the development of new cancer treatments – and this new service will transform how that research is carried out.'

He added: ‘We'll continue to seek feedback from the public as we develop the service and will only allow access to NHS data where there is likely to be a direct benefit to NHS patients - so that health researchers can get the data they need faster, and patients can benefit from advances in treatments much sooner.'